Reference no: EM132643850
The following data were taken from the balance sheet of ABC Corp., on December 31:
Cash....................................................................................... $192,000
Accounts Receivable...(net)........................... ..............................48,000
Inventory...(net)............................................... 60,000
Fixtures(net of depreciation)........................................................256,000
Mortgage payable (due in 25 years)................................................ 179,200
Note Payable (due in 10 days)....................................................... 100,000
Accounts Payable (to suppliers of inventory).................................... 50,000
Question a. ABC Corp.'s quick ratio is:
Question b. ABC Corp.'s current ratio is:
Assume that ABC Corp. pays $30,000 of the $50,000 balance of accounts payable on December 31.
Question c. After the payment, ABC Corp.'s quick ratio is:
Question d. After the payment, ABC Corp.'s working capital is:
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